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Bitcoin and its love for descending trianglesHey there, after our run up to recent targets of 8900 USD we bounced off and have been consolidating since then. This conso looks not bullish to me in my opinion, after we tried to break resistance on the second high and managed to do so by a few bucks, yet bounced off immediately. This kinda looks like the consolidation after the second high after the high of 14k where we consolidated and got rejected after breaking resistance. A descending triangle is now forming and the 4h and 1h which indicated a drop to levels of about 8400~ and a second target at 8330~. at 8400 waits a rather strong trendline and at 8300 recent important resistance which has not yet been retested. Looking for possible entries in those areas, but will keep my initial entry at 8240. I do not think it would be too profitable to go short, and if you really want, then only for a few hours/days, since I think bitcoin looks too bullish and just wants to establish a solid trend for further upside. Also people most likely entered around the high at 8900 and thought we would break higher. It is rather likely for people to have their stop set at the lows of this conso and who will get shaken our by a nice drop, for bulls (smart money) to enter again. Check out my YouTube channel "Enlightened Trading" for furhter information. Cheers, Konrad
BITSTAMP:BTCUSDShort
by EnlightenedTrading
Bitcoin may crash down as low as $1800Comparing our current bear market with our previous bear market I think we may crash lower than most people are expecting. If you draw a fib circle and a trend line from the peak down to where we started to push up before our parabolic run up. You will notice in both 2014 and our current bear market the similarities are uncanny! If this plays out the same we are looking at a possible crash down to $1800 and lower. To view more of my charts as well as private charts please click on details section of my trading view account.
BITSTAMP:BTCUSDShort
by snookerer
38
Today's vertical uprise has been neglected, BTC road to 6K !!!!!After a pump from 7100 to 7900, price has been dropping, right now price is 7150, if 7100 is broken, which is most probably scenario, then 6k will be displayed for a few days. As previously discussed, 200EMA is so far away, minning costs for most machines are around 3k, and otherwise, bear in mind about minners have been able to still minning with losses for an average 6months according to previous halvings. On the other hand, most of indicators show up strong SELL signals. There's a huge descending triangle which has been forming when BTC hit 14k 5 months ago, this retracement was expectable. Furthermore, there's an special interest for whales about stretching out the bottom (3k?) in order to make bigger gains in late 2020. In other words, probably BTC will drop to 6k in the following day/s and if that happens, we can talk freely about 5k for mid December.
COINBASE:BTCUSDShort
by diversionlulu
Ultimate Beginners Guide For Bitcoin Profit in 2020As we head into December, We can see that the major drops I had predicted since November 14th has occured. Bitcoin is currently fighting to stay above the major Support line that developed back in march of this year 2019 when Bitcoin had the golden cross and rallied to 13k zone. This support line is set to break as we are no where near the end of our capitulation cycle. as you can see on the chart labled "C2" Allow me to further explain... Back in November 2018 we capitualted around the same time and the cycle brought us from $6,400 down to $3,200 once capitulation reached it's peak. See C1 label on chart. From these two capitulation zones we can chart our next two support zone.... First support being set to $6,400 labeled on chart as S1 If we fail to hold $6,400 zone, Then we will see another 50% capitulaiton completeing a 100% retracement back down to our previous capitulation lows of $3,800 Labeled on chart as S2 And If $3,400 doesn't hold... Well We could see $2,500 low Labeled on chart as "MOAB" Mother Of All Buys As Of right now, I am predicting our capitulation cycle will be completed in January. I will be buying in March of 2020 where I will hold until October or until further Technical Analysis depicts. Follow my Page for my updates.
COINBASE:BTCUSDShort
by ILL_Midas
14
A 10% drop for XRP is in the cardsWelcome! A very obvious trade setup has formed here. After its initial correction, XRP has consolidated above its previous support, made a rally attempt but failed to move higher and got rejected by the 20MA thus making a lower high . We can see that the price has returned to the previous support, held it for a couple of days but then went below it. So far we are being rejected by the same support making this a potential S/R flip . Bollinger band width implies a bigger move is coming and since we are below all mayor moving averages directional bias is to the downside. Entry: now, at market Stop loss: 3158 Targets: - my first downside target for XRP/BTC is that pair of equal lows (connected with the yellow dotted line) - my second and primary downside target is the strong support area (blue line) with a possible sweep of the previous lows (white curve) Feel free to follow me on Twittter: twitter.com Take care.
Short
by Mansasuma
BTC - RSI similarities - may pump to 10800-11000 today Just an idea - - similar chart pattern - rsi looks similar to the last yellow elipse - alts looking good to rise in near future. All that could pump us to a new high. BUT, this is just an idea, because the yellow elipses look similar thought, but the first one is at a "bottom", the second is on a "top", so that means that we have different situations. We may pump, we may drop. - Most of the time patterns DONT repeat. However, i'm 70:30 for Long now. have a good trade.
BITSTAMP:BTCUSDLong
by Blockshame
1
If bitcoin breaks below ring with red arrow be ready for a drop!If bitcoin price continues to follow down the thick yellow rings and we drop below red ring with red arrow pointing to it then expect a big drop. Two rings back we had a drop when we crossed white ring from the same fib circle and broke support of red ring. Same thing could play out again if drop below last red ring. Longs are stacked while shorts have dropped off the board and we are in an unregulated manipulated market, might be wise to play the contrarian on this one. We either pump soon or down with the ship we go!
BITSTAMP:BTCUSDShort
by snookerer
12